Metropolis Technologies, an artificial intelligence company whose computer vision platform enables checkout-free payment experiences, announced today that it has closed its acquisition of SP Plus Corporation ('SP+'), the largest parking network and provider of mobility services for aviation, commercial, hospitality and institutional clients in North America.

The acquisition follows the October announcement of Metropolis' $1.8 billion financing led by Eldridge along with new investors including BDT & MSD Partners' affiliated credit funds, Vista Credit Partners and Temasek as well as strong support from Metropolis' existing shareholder group led by 3L.

Metropolis Technologies is an artificial intelligence company whose computer vision platform enables checkout-free payment experiences for the real world. Its proprietary AI-driven technology reaches more than 50 million customers while reducing costs, increasing transparency and capturing additional revenue for real estate partners. Following its take-private acquisition of SP+, Metropolis is now the largest parking network in North America with more than 4,000 locations.